Wolverhampton-based specialist firm Andrews Sykes has parted company with finance director Tony Bourne, it emerged yesterday.
The group said Mr Bourne's position had been made redundant and his contract of employment terminated. As a consequence he had resigned as a director, it added.
Mr Bourne joined the board of Andrews Sykes in May 2002, becoming responsible for the development of the group's internal controls and financial reporting mechanisms.
The company, a specialist in the field of hiring portable heating and air conditioning equipment, added in a statement yesterday that due to a number of reorganisations, the function previously carried out by Mr Bourne can now be conducted by existing management.
"Accordingly one of the non-executive directors, Jean Christophe Pillois, will assume overall responsibility for the group's finance function. The group financial controller and company secretary will assist him in this role."
Last week Andrews Sykes posted a 35 per cent increase in operating profit to £5.4 million in the six months to June.
Pretax profit was £5.3 million against £10.7 million last time, although the latter included a £6.7 million exceptional gain. Sales rose 20 per cent to £27.6 million.